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    100 W 76Th St Davenport, IA 52806

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    For Sale
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    118-room hotel near major developments and transportation routes.

    Property size:
    58,900 SF
    Lot size:
    11.77 Acres

    Property Features for 100 W 76Th St

    General Information

    Standard status
    Active
    Size
    58,900 SF
    Lot size
    11.77 Acres

    Building Details

    Year built
    1984

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    Listing Contact
    Lee Heppenheimer
    Source: Crexi

    Listing Agency: Marcus & Millichap - Indianapolis Listing Agent: Lee Heppenheimer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Davenport Hotel Near Amazon Fulfillment

    The Best Western Plus Steeplegate Inn is a two-story, full-service hotel located at the crossroads of Interstate 80 and U.S. Route 61 in Davenport, Iowa. The hotel features 118 interior corridor rooms and is near several attractions and businesses within the Quad Cities Metropolitan area. Amenities include a heated indoor pool and spa, a spacious atrium, an outdoor patio with seating, a fitness center, and complimentary breakfast. Business amenities include a business center and over 8,000 square feet of meeting space. The property is the closest hotel to Amazon's recently opened 2.3-million square-foot robotics fulfillment center. A subsidiary of Meta plans an $800 million data center in Davenport, with groundbreaking planned for 2025 and completion in 2027. Capital property improvements in 2023 and 2024 totaled $756,750, including 3-phase wiring in all guest rooms, new LVT flooring in 92 guest rooms, and new PTAC units in 106 guest rooms. Additional improvements include replacement of windows for $36,000, a new Atrium HVAC, and new outdoor LED parking lot lighting. A new $346,380 solar roof has reduced the hotel's electric costs by 30% in its first six months. The property size is 58,900 square feet.
    Location Intelligence

    Current Use by Public Records

    Frontier Management Wedding Service Best Western Plus ... Hotel & Motel 1 Hundred West ... Bar & Pub Prairie Grille Restaurant C J Nails Hair Salon

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Auto Repair Shop Big Box & Wholesale Store Auto Parts Store Hotel & Motel Department Store Kitchen & Bath Showroom Storage Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Davenport
    County
    Scott
    State
    Iowa
    Longitude
    -90.573946
    Latitude
    41.594591

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    FAQs

    What type of property is this?
    Hotel - 118-room hotel near major developments and transportation routes.
    Where is this hotel located?
    The property is located at 100 W 76Th St Davenport, IA.
    What are key features of this property?
    This property features: - Strategic location at the intersection of Interstate 80 and U.S. Route 61.; - Proximity to the new Amazon robotics fulfillment center and Meta's planned data center.; - Substantial $756,750 invested in capital improvements in 2023-2024.
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    100 W 76Th St Davenport, IA 52806
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    Listing Contact
    Lee Heppenheimer
    Real Estate License ID: RB14029352
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